DSK Legal

DSK Legal advised Mandala Capital with respect to its full exit from Edward Food Research and Analysis Centre (“EFRAC”).

DSK Legal advised and assisted EBP Global AG (Purchaser) and promoters of STEP (Sellers) as a transaction counsel in relation to transfer of 100% shareholding of STEP (referred to as the “Transaction”).

DSK Legal assisted and advised Haystack Analytics Private Limited (“Haystack”), in relation to investment by Sun Pharmaceutical Industries Limited (“Sun Pharma”) to acquire 9.6% of Haystack’s total outstanding securities.

DSK Legal advised and assisted Solara Active Pharma Sciences Limited (the “Company”) in connection with the filing of the letter of offer dated May 9,

DSK Legal is delighted to announce the promotion of Ms. Rimali Batra and Ms. Ekta Tyagi as Partners, and Mr. Soham Mookherjee, Mr. Parinay Vasandani, and Mr. Satendra Kumar Rai as Associate Partners.

DSK Legal is advising ReNew Energy Global plc (“ReNew” or “the Company”) (Nasdaq: RNW, RNWWW), India’s leading renewable energy company, on the transaction with JERA Co., Inc (“JERA”),

DSK Legal advised, assisted and represented the Confederation of Real Estate Developers Association of India (“CREDAI”) before the Hon’ble Supreme Court of India in Writ Petition (Civil) No. 1394 of 2023 (Vanshakti Vs UOI) and successfully sought a modification/clarification of the Interim Order dated January 2, 2024 bringing significant respite to real estate developers across the country.

DSK Legal advised, assisted and represented Head Digital Works Private Limited, Play Games24X7 Private Limited and Junglee Games India Private Limited (‘Online Gaming Operators’) before the Hon’ble High Court of Judicature at Madras in the proceedings as stated hereinbelow.

DSK Legal advised, assisted and represented Head Digital Works Private Limited, Play Games24X7 Private Limited and Junglee Games India Private Limited (‘Online Gaming Operators’) before the Hon’ble High Court of Judicature at Madras in the proceedings as stated hereinbelow.

DSK Legal advised and assisted Narayana Group of Entities (Narayana Group) and its promoters (Promoters) in relation to a leveraged buyout of ~ USD 165 million of the stake held by:

In a landmark judgment delivered on 09.10.2023, the Hon’ble Supreme Court has finally settled the conundrum arising out of the conflicting interpretations of Rule 3 of the Electricity Rules,

Vellvette Lifestyle Pvt. Ltd., which owns the beauty brand Sugar Cosmetics established by co-founders Vineeta Singh and Kaushik Mukherjee, has entered into a transaction with actor Kareena Kapoor Khan to introduce a new Korean skincare brand named Quench Botanics. Ms Khan as a strategic investor will be a co-owner of Quench Botanics.

In a landmark judgment delivered on 09.10.2023, the Hon’ble Supreme Court has finally settled the conundrum arising out of the conflicting interpretations of Rule 3 of the Electricity Rules, 2005 (“Rules”) as given by the Hon’ble APTEL in the two judgments i.e. Kadodara Power Pvt. Ltd. and Others v. Gujarat Electricity Regulatory Commission (“Kadodra Power”),

DSK Legal is delighted to announce the promotion of two Principal Associates, Chirag Jain and Shruti Dogra, to the position of Associate Partners.

DSK Legal is delighted to announce the promotion of two Principal Associates, Chirag Jain and Shruti Dogra, to the position of Associate Partners.

DSK Legal advised, assisted and represented M/s. Eversmile Construction Company Private Limited (“our client”) who have the development rights over the land upon which, parts of the ramp and Sahar Elevated Road for approach, ingress and egress to Airport Terminal Building, has been constructed and is being maintained by Mumbai International Airport Limited (“MIAL”).

Continuing its offensive against piracy of its latest blockbuster, Jawan, Red Chillies Entertainment, through DSK Legal, today i.e. 19th September, 2023 successfully moved the Delhi High Court asking for WhatsApp groups/users and Telegram channels illegally sharing the film to be immediately suspended and deactivated.

Singapore-headquartered Global Schools Foundation (GSF), world’s most awarded network of eminent international schools, has entered a strategic partnership with Mumbai headquartered Witty Group of Institutions (Witty), operating leading ranked schools in Mumbai and Rajasthan.

DSK Legal represented and advised Appcino Technologies Private Limited (“Company”) and its Promoter Group in relation to the sale and purchase of the Promoter Group’s equity shares culminating to 100% acquisition of the Company by Xebia India Holding B.V. (“Acquirer”), based in the Netherlands.

DSK Legal advised and assisted Mr. Sundaresh Bhat, appointed as Resolution Professional JBF Petrochemicals Limited (“JBF”) with respect to the corporate insolvency resolution process of JBF.

DSK advised and assisted the consortium comprising of Yura Business Partners LLP & Gupta Steel Corporation Private Limited (“Resolution Applicants”) with respect to submission of a resolution plan in the corporate insolvency resolution process of Mayur Pankh Properties Private Limited (“Corporate Debtor”) as per the provisions of the Insolvency and Bankruptcy Code, 2016.

DSK advised and assisted Mr. Manoj Kumar Agarwal, Resolution Professional of DS Kulkarni Developers Limited (“DSKDL”) with respect to the corporate insolvency resolution process of DSKDL as per the provisions of the Insolvency and Bankruptcy Code, 2016.

The LCIA is one of the world’s leading international institutions for commercial dispute resolution. It provides efficient, flexible and impartial administration of arbitration and other ADR proceedings, regardless of location, and under any system of law.

DSK Legal advised Excel Controlinkage Private Limited (Excel) and its Promoters in relation to sale of their 100% shareholding in Excel to Greaves Cotton Limited (GCL) in four tranches. The first tranche will comprise of sale of 60% shareholding in Excel. The deal value is approximately INR 385,00,00,000/- (Indian Rupees Three Hundred and Eighty Five Crores Only).

In a recent judgment delivered by the Hon'ble Supreme Court of India ("Hon'ble SC"), the Special Leave Petition (“SLP”) filed by Tata Motors Limited ("Tata") was dismissed, while the counter-SLPs filed by Brihan-Mumbai Electricity Supply & Transport Undertaking ("BEST") were allowed.

On April 20, 2023, the Indian Space Research Organisation (ISRO) and the Indian National Space Promotion & Authorisation Centre (IN-SPACe) released the Indian Space Policy 2023 (“Policy”) (accessible here), which was recently approved by the Cabinet Committee on Security to enable India to pursue a holistic approach and encourage private sector participation in the entire value chain of the Space Economy.

DSK Legal advised SRL Limited, a subsidiary of Fortis Healthcare Limited, in relation to acquisition of the business of M/s Lifeline Laboratories (“Target”), to expand SRL’s footprint in Delhi NCR region in the diagnostic services domain. 

DSK Legal advised Religare Enterprises Limited (“Religare”) in relation to its acquisition of 100% shareholding of MIC Insurance Web Aggregator Private Limited (“Target Company”) from iGear Holdings Private Limited (“iGear”), an Indian Express Group entity. With this acquisition, Religare aims at expanding its foothold in the insurance distribution space.

In line with its continuing growth, DSK Legal has shifted to larger offices in Mumbai and Pune. Equipped with the necessary amenities and state-of-the-art infrastructure, the new offices will provide a harmonious work environment for lawyers and clients.

DSK Legal advised Redcliffe Labs on the acquisition of Medicentre Sonography & Clinical Lab by way of a slump sale transaction, to expand Redcliffe’s footprint in India in relation to the delivery of diagnostic services. The consideration payable to the sellers was a mix of cash and equity.

DSK Legal has promoted Associate Partners Abhishek Singh Baghel, Jayesh Kothari, Mitali Naik and Nakul Batra as Partners; and Principal Associates Akanksha Tiwary, Prachi Garg and Prachi Gupta as Associate Partners.

DSK Legal has successfully advised and assisted the Railway Board, Ministry of Railways in a ₹26,000 crore ($3.25 billion) project, relating to supply and maintenance of electric locomotives for freight movement in India, to be executed by global engineering and technology firm Siemens in collaboration with the Indian Railways.

DSK Legal advised Kotak Investment Advisors Limited (“KIAL”), in relation to the closure of KIAL’s 13threal estate fund for opportunistic real estate investments in India.

DSK Legal advised and assisted FINN Partners Limited (“Acquirer”) in respect of its acquisition of health communication and marketing agency SPAG Consultants Private Limited (“SPAG”) to expand its healthcare operations and its footprint in Asia.

DSK Legal advised i3 Verticals, Inc. (“i3”) on Indian-leg of its acquisition of a leading provider of enterprise software solutions for the motor carrier and motor vehicle markets in the U.S. States and Canada, with effect from October 1, 2022. This is i3’s second largest acquisition to date.

DSK Legal advised and assisted Sahyadri Farmers Producer Company Limited and its group companies (“Sahyadri Group”) in relation to foreign investments raised in Sahyadri Farms Post Harvest Care Limited (“SFPHCL”), the subsidiary of Sahyadri Farmer Producer Company Limited (“SFPCL”). SFPHCL has raised ₹310 crore (almost € 40 million) growth capital from group of impact-focused investors namely, Incofin, Korys, FMO and Proparco. 

DSK Legal advised and assisted SUNTECK LIFESPACE PRIVATE LIMITED in respect of acquisition of development rights of property admeasuring in aggregate 28,935 square meters situate at Village Navghar (Mira Road), Taluka Thane and District Thane (“Property”). 

DSK Legal recently moved from its existing office at Cunningham Road to a larger office space in Prestige Loka, Brunton Road in Bengaluru, pursuant to its ongoing growth.

DSK Legal recently moved from its existing office at Cunningham Road to a larger office space in Prestige Loka, Brunton Road in Bengaluru, pursuant to its ongoing growth. Equipped with the necessary amenities and state-of-the-art infrastructure, the new office will provide a harmonious work environment for clients and lawyers. Mr. Anand Desai, the Managing Partner of the firm in a statement said, “We are delighted with the continuing growth of our practices in Bengaluru, and to have shifted to larger office premises.” Recently, DSK Legal was awarded “South India Law Firm of the Year” at the ALB India Law Awards 2022. The firm comprises of 63 Partners and Associate Partners with over 250 Advocates across offices in Mumbai, New Delhi, Bengaluru, Pune, and Hyderabad, of which the Bengaluru office has 5 Partners and their teams. Given the firm’s growth and commitment to provide a modern working environment to its teams and clients, this move is another significant milestone for the firm. DSK Legal also added further office space in Delhi this month, after having shifted into a larger office space in March 2022.

DSK Legal advised Equirus Capital Private Limited and Motilal Oswal Investment Advisors Limited (together the “Book Running Lead Managers/BRLMs”) with respect to the initial public offering of 17,242,368 equity shares of Dreamfolks Services Limited (the “Company”) through an offer for sale by Liberatha Peter Kallat, Mukesh Yadav and Dinesh Nagpal, who are Promoters of the Company. The Red Herring Prospectus was filed with the RoC on August 17, 2022; the prospectus was filed on August 30, 2022 and the Company was listed on September 06, 2022 on BSE and NSE.

I Introduction: Alternative Dispute Resolution mechanism (commonly known as ADR mechanism”) has prevailed in India since its medieval period. While the panchayat system i.e., a form of ADR mechanism, was predominant in the country for being cheap and easily accessible with liberal procedural laws, the hierarchy of court system propounded by the Britishers has changed the landscape of justice delivery system in India. So has the costs and time to access and pursue the litigation, which has changed and escalated exorbitantly over the period of time.

It is a well settled principle of law that any enactment which substantially affects the rights of people cannot be applied retrospectively. This was upheld by the Hon’ble Supreme Court in the case of Union of India v. Ganpati Dealcom Pvt. Ltd., CIVIL APPEAL No. 5783 of 2022, decided on 23.08.2022, wherein it was declared that Section 3(2) and Section 5 of the unamended Prohibition of Benami Property Transactions Act, 1988 (“1988 Act”) were unconstitutional for being manifestly arbitrary. Further, it was held that Section 3(2) of the Benami Transactions (Prohibition) Amendment Act, 2016 (“Amendment Act”) violated Article 20(1) of the Constitution of India (“Article 20(1)”) and was hence unconstitutional. Additionally, it was held that in rem forfeiture provision under Section 5 of the Amendment Act was punitive and could only be applied prospectively. This article endeavors to unravel the implications of this judgement on convicts and their respective confiscated properties. An attempt is made to analyze the legal questions by drawing parallels from existing jurisprudence on “unconstitutionality of law”. Benami Transactions: Unconstitutionality of Section 3(2) and Section 5 of 1988 Act, juxtaposed in reference to legal implications for the criminal justice system. A benami transaction is an agreement whereby property is transferred to or held by a person, but the consideration for the transfer is made by another person, who then holds the property for the present or future benefit of the person who made the payment.[1] Benami transactions occur when property is acquired in the name of a fictional person or when a fictitious person provides the consideration for the acquisition of property.[2] Furthermore, a transaction is deemed to be benami when the person shown as owner is either not aware about the ownership or denies the same.[3] As per Section 3(2) of the 1988 Act, engaging in a benami transaction would result in imprisonment up to three years, a fine or both. Further, in a benami transaction, the punishment is not only confined to imprisonment, but also extends to the attachment of property as per Section 5 of the 1998 Act. This section lacked sufficient safeguards for not providing any mechanism wherein the person could defend the title of his property. In the absence of sufficient safeguards, the above provisions were held manifestly arbitrary and unconstitutional by the Apex Court. The 2016 Amendment Act brought in the aspect of “retrospective application” under Section 3(2) which stated that three years imprisonment shall accrue for all transactions entered from 05.09.1988 to 25.10.2016. Thus, in the Ganpati Judgement (supra) Section 3(2) of the Amendment Act was held unconstitutional for being violative of Article 20(1). Further, by virtue of the 2016 Amendment Act, scope of benami property under section 5, was expanded to include within its ambit the proceeds arising out of such a property.[4] Therein, the Apex Court held that in rem forfeiture effectuated post the 2016 Amendment Act, being punitive in nature could only be applied prospectively. All such prosecutions and confiscation processes were therefore quashed. In light of this ratio, two legal issues which are left open and need to be addressed are impact of the judgment on conviction under Section 3(2) of the 1988 Act and devolution of the title of the confiscated properties under Section 5 of the 1988 Act. Attention is drawn to the case of Behram Khurshed Pesikaka v. The State of Bombay[5], wherein the Hon’ble Supreme Court set aside the conviction which was based on the act that subsequently became unconstitutional. At this juncture, it is imperative to note that the paramount right to life encapsulated under Article 21 states that “No person shall be deprived of his life or personal liberty except according to procedure by law”[6]. This implies that convictions based on a law that has become unconstitutional would fall within the purview of “illegal detentions”. This interpretation can be corroborated by the recent verdict of the Hon’ble Supreme Court in Bhola Kumhar v. State of Chhattisgarh[7], wherein under paragraph 17 it is noted that “detaining a convict beyond the actual release date would amount to imprisonment or detention sans sanction of law and would thus, violate not only Article 19(d) but also Article 21 of the Constitution of India. Considering this ratio, convictions based on Section 3(2) shall be quashed by approaching the Writ Jurisdiction of the appropriate Hon’ble High Court. The transaction pertaining to the confiscated property could be traced by seeking a report from the Administrator, the statutory authority which manages the benami property[8] and appropriate decision as to its title shall be decided based on facts and circumstances of each case. Conclusion The judgement propounds that “as a consequence of the above declaration, all such prosecutions or confiscation proceedings shall stand quashed”, however the procedure to effectuate this ratio is not addressed and left open at the behest of judicial discretion. Conclusively, this judgement is a testimony to the fact that the common law is a living system exhibiting dynamism. Judicial Review exercised in this judgment is not encroaching the notion of separation of powers but merely ensuring that legislature do not overlook the fundamental rights guaranteed under Part-III of the Constitution of India. In the aftermath of this landmark decision, it is imperative that the pillars of criminal justice system work harmoniously and cohesively to ensure speedy justice. Authored by: DSK Legal Partner, Mr. Samir Malik; Principal Associate, Mr. Aditya Sharma and Associate, Ms. Priyanshi Sarin. [1] Section 2 (9) (A) of Prohibition of Benami Property Transactions Act, 1988. [2] Section 2 (9) (B) and (D) of Prohibition of Benami Property Transactions Act, 1988. [3] Section 2 (9) (C) of Prohibition of Benami Property Transactions Act, 1988. [4] Section 2(8) of the Prohibition of Benami Property Transactions Act, 1988. [5] Behram Khurshed Pesikaka v. The State of Bombay (AIR 1955 SC 123). [6] Article 21 of the Constitution of India, 1950. [7] Bhola Kumhar v. State of Chhattisgarh Criminal Appeal No. 937 of 2022. [8] Section 28 of the Prohibition of Benami Property Transactions Act, 1988.

Alternative Dispute Resolution mechanism (commonly known as ADR mechanism”) has prevailed in India since its medieval period. While the panchayat system i.e., a form of ADR mechanism, was predominant in the country for being cheap and easily accessible with liberal procedural laws, the hierarchy of court system propounded by the Britishers has changed the landscape of justice delivery system in India. So has the costs and time to access and pursue the litigation, which has changed and escalated exorbitantly over the period of time.

DSK Legal represented and appeared for Korean producer/ exporters POSCO group and DCM Ltd. before the Directorate General of Trade Remedies (‘DGTR’) in the anti-dumping investigation concerning imports of Electrogalvanized (‘EG’) Steel originating in or exported from Korea RP, Japan and Singapore.

DSK Legal represented and appeared for Korean producer/ exporters POSCO group and DCM Ltd. before the Directorate General of Trade Remedies (‘DGTR’) in the anti-dumping investigation concerning imports of Electrogalvanized (‘EG’) Steel originating in or exported from Korea RP, Japan and Singapore.

DSK Legal advised TPG backed Quality Care India Limited (“CARE”) in relation to the acquisition of significant majority stake of the shareholding of United CIIGMA Institute of Medical Sciences Private Limited (“CIIGMA”), along with its other group entities (collectively the “CIIGMA Group Entities”).

DSK Legal advised HealthQuad Fund II (“HealthQuad”) in relation to its subscription of securities in the Series B funding round of Redcliffe Lifetech Private Limited and Redcliffe Lifetech Inc. (“Investee Companies”), as one of the major investors along with Vistra ITCL (India) Limited, Amicorp Trustees (India) Private Limited, and Shubharambh Investment Holdings (Leap Frog) (“Transaction”).

DSK Legal advised HealthQuad Fund II (“HealthQuad”) in relation to its primary and secondary investment in the Series A funding round of GoApptiv Private Limited (“Company”) along with Cipla Limited (“Cipla”) as a co-investor, wherein Cipla is an existing investor in the Company.

DSK Legal advised National Investment and Infrastructure Fund (NIIF), in relation to 100% acquisition of SP Jammu Udhampur Highway Limited (SP JUHi) from Shapoorji Pallonji Group (SP Group) through the NIIF Master Fund. 

TRANSACTION SUMMARY DSK Legal advised HealthQuad Fund II (“HealthQuad”) in relation to its primary and secondary investment in the Series A funding round of GoApptiv Private Limited (“Company”) along with Cipla Limited (“Cipla”) as a co-investor, wherein Cipla is an existing investor in the Company.

We are delighted to announce that Mr. Bobby Chandhoke and Mr. Sudhir Sharma have joined DSK Legal together with 19 partners and their respective teams aggregating to 63 lawyers, after leaving L&L Partners where they had worked for several years. They bring a diverse range of experience, and are well recognized in their areas of practice, including Dispute Resolution, Competition and Anti-Trust, Employment, International Trade, Corporate M&A, Intellectual Property, and Fintech.

DSK Legal advised Mimansa Industries Private Limited (“Company”), a company engaged in the business of manufacturing and selling wide range of fresh bakery products under the brand named “The Baker’s Dozen” on both online and offline channels; and its Founders, Mr. Sneh Jain and Ms. Aditi Handa (“Founders”) in relation to their Pre-Series A Round from Fireside Ventures Investment Fund – II (“Investor”).

DSK Legal advised Mimansa Industries Private Limited (“Company”), a company engaged in the business of manufacturing and selling wide range of fresh bakery products under the brand named “The Baker’s Dozen” on both online and offline channels; and its Founders, Mr. Sneh Jain and Ms. Aditi Handa (“Founders”) in relation to their Pre-Series A Round from Fireside Ventures Investment Fund – II (“Investor”). 

DSK Legal advised Aquaexchange Agritech Private Limited (“Aquaexchange”) and its Founder, Mr. Pavan Kosaraju (“Founder”) in relation to their Pre-Series A Round led by Accion Venture Lab Holdings LLC, Endiya Trustee Private Limited (collectively the “Lead Investors”) alongside the existing investors of Aquaexchange, i.e. (i) NS Trading and Investments LLP, (ii) Vignan Publishers Limited, (iii) AZ Gems Inc. and (iv) other individual investors (“Investors”).

DSK Legal advised and assisted Imagicaaworld Entertainment Limited, a public listed company whose equity shares are listed on BSE Limited and the National Stock Exchange of India Limited and whose registered office is situated at 30/31, Sangdewadi Khopoli Pali Road, Taluka-Khalapur, Khalapur, Raigarh – 410 203, Maharashtra, India (“Company”) in relation to the Resolution Plan/Offer (as amended/modified from time to time) submitted by Malpani Parks Indore Private Limited (“MPIPL” or “Acquirer”) in the open competitive bidding process undertaken by Union Bank of India (as the lead bank on behalf of the lenders of the Company) for the solicitation of binding bids from eligible bidders for assignment/one-time settlement of the debt obligations of the Company in accordance with the requirements of the Reserve Bank of India (Prudential Framework for Resolution of Stressed Assets) Directions, 2019 (collectively, the “Resolution Plan”).

DSK Legal advised TPG backed Quality Care India Limited (“CARE”) in relation to the acquisition of Convenient Hospitals Limited group.

DSK Legal advised Kotak Investment Advisers Limited (“KIAL”), in relation to the closure of KIAL’s 12th real estate fund for investments in office assets in India.

DSK Legal advised City & Industrial Development Corporation (“CIDCO”), as borrower’s counsel, in relation to financing of Rs. 5000,00,00,000/- (Rupees Five Thousand Crores) from State Bank of India(“Lender”) for a residential township in Navi Mumbai, Maharashtra under the Pradhan Mantri Awas Yojana (PMAY) Scheme (“Transaction”).

DSK Legal advised ReNew Power Private Limited (“ReNew”) in relation to signing of definitive agreements for acquisition of operating wind and solar asset portfolio of 527.9 MW, comprising 471.65 MW of wind and 56.25 MW of solar assets. The expected closing of the overall transaction is in Q2 FY23, but ReNew will receive all cash flows generated from the assets from the lock box date, i.e., April 1, 2022. The acquired 527.9 MW of operating wind and solar projects are spread across 40+ projects situated in eight Indian states, i.e. Gujarat, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu and Telangana.

Authored by – Mr. Rishi Anand, Partner; Mr. Chirag Jain, Principal Associate and Ms. Shruti Agrawal, Associate

Authored by – Mr. Rishi Anand, Partner; Mr. Nakul Batra, Associate Partner and Mr. Kunal Garg, Associate.

DSK Legal is advising the Railway Board, Ministry of Railways, on two projects being undertaken under the aegis of the ‘Make in India’ initiative of the ‘Aatma-Nirbhar Bharat’ mission of the Government of India.

DSK Legal advised Infifresh Foods Private Limited (“Infifresh”) and its Founder, Mr. Utham Swamygowda (“Founder”) in relation to their Series C – Tranche 2 Round from Evolvence India Fund IV Ltd. (“Series C Investor”).

We are delighted to announce that Srinivas B.R., Brijita Prakash, Karan Ajitsaria and Siddharth Suresh have joined us as partners in our Bengaluru office along with their teams, after having been at M/s Dua Associates for several years. The four partners come with a wealth of experience, and are well recognized in their areas of practice. Srinivas B.R. leads the team joining us.

DSK Legal advised a consortium of investors including GBL Clean Energy Private Limited (“GCEPL”), Golden Agri International Enterprises Pte Limited (“GAR”), K.N Agri Resources Limited and other investors for their investment in  Bluebrahma Clean Energy Solutions Private Limited (“Hold Co.”) and subsequently advised the Hold Co in relation to its 100% acquisition of the shareholding of Sagar Industries and Distilleries Private Limited (“Company”) from Mr. Nandu Kalani, Mr. Nirmal Kalani and Kalani family members (“Existing Shareholders”) along with 95 acres of land held by the Existing Shareholders adjacent to the existing manufacturing facility at Nashik of the Company (“Land Owners”) (“Transaction”). 

DSK Legal advised ReNew Power Private Limited (“ReNew”) in relation to its joint venture with Mitsui & Co., Ltd. Japan (“Mitsui”), whereby Mitsui (through its wholly owned subsidiary) has acquired 49% stake in ReNew’s 1,300 MW capacity RTC (round-the-clock) project (“Project”). The said Project is the first of its kind RTC project in India, which will provide lowest cost and emission-free 24X7 renewable electricity. While it is difficult for conventional renewable energy projects to commit stable electricity supply due to the intermittent nature of winds and solar irradiation, the Project commits electricity supply of 400 MW with high capacity factor on a round-the-clock basis, and is slated to be a game-changer for the energy sector in India. 

DSK Legal completes 21 years today. We are grateful for the trust our clients repose in us and for all their support throughout our journey.

DSK Legal advised Appnit Technologies Private Limited (“Company”), its Promoters and existing investors in relation to an acquisition of a controlling stake by way of primary and secondary investment in the Company, by DMI Finance Private Limited (“Investor”). The Company holds a semi-closed wallet license from RBI by the name of Oxymoney and is engaged in the business of product development in payments technologies, including providing integrated payment processing platform.  

DSK Legal advised Siana Capital, Eight Roads Ventures India, VE Proactive Fund II and Endiya Partners (collectively the “Existing Institutional Investors”), the existing institutional investors of Aayuv Technologies Private Limited (“Company”), in relation to their investment in the Series B Round of the Company, alongside Healthquad Fund II and Sabre Partners AIF Trust (collectively the “Incoming Investors”).

DSK Legal advised F. S. Fehrer Automotive GmbH, Germany (the “Seller”) in relation to its exit from Harita Fehrer Limited (“Company”) by way of sale of 49% (forty nine percent) shareholding to Minda Industries Limited (“Minda”). (“Transaction”). The Company was a joint venture between Harita Seating Systems Limited (“HSSL”) (amalgamated with Minda Industries Limited) and the Seller. Pursuant to the Transaction, the Company will become a wholly-owned subsidiary of Minda. The Company a leading manufacturer of seating systems in India and specializes in manufacture & supply of driver seats and bus passenger seats for commercial vehicles, tractors, off-road vehicles and buses.

DSK Legal acted as a sole counsel to Corrtech International Limited (“Company”) and Equirus Capital Private Limited, Book Running Lead Manager (“BRLM”) with respect to the initial public offering comprising of a fresh issue of equity shares aggregating up to ₹3,500 million and an offer for sale of 4,000,000 equity shares of the Company held by its promoter individually as well as jointly with the members of the promoter group. The DRHP has been filed with SEBI on March 17, 2022.

DSK Legal advised HDFC Capital Advisors Limited (“HDFC Capital”) on their investment in Loyalie IT Solutions Private Limited (“Company”) (operating under the brand name ‘Reloy’). 

DSK Legal advised Infifresh Foods Private Limited (“Infifresh”) and its Founder, Mr. Utham Swamygowda (“Founder”) in relation to their Series C Round from the Existing Investors of Infifresh, i.e.: (i) Tiger Global; (ii) Prosus Ventures (Naspers); (iii) Accel Partners; (iv) Matrix Partners; (v) Ankur Capital Fund; and (vi) Incubate Japan (“Series C Investors”). 

To accommodate its continuing growth, DSK Legal has shifted to a larger office in New Delhi, being the entire 5th floor at Max House, Okhla, with state-of-the-art facilities, 6 meeting rooms; library; cafeteria and a lounge area.

It has been nearly 18 months since the onset of the pandemic and the world has already experienced far reaching implications of Covid-19. While the impact of Covid-19 has affected every country, every sector and every business, the impact has been rather brutal on some countries and especially on some sectors and businesses. For e.g. sectors like hospitality, retail, travel & tourism & aviation have seen a greater impact as compared to some of the other sectors like information & technology, manufacturing etc.

DSK Legal advised NOW (TapTap Meals Private Limited), a B2B commerce platform and its promoters Vivek Pandey and Bharat Khandelwal and all the existing investors and shareholders including CK Jaipuria Group in selling their entire stake in NOW to Borzo (previously known as WeFast).

DSK Legal advised CK Jaipuria Group in its investment in Home-grown gamified social media app “Explurger”. Explurger is a new-age social media platform built on Artificial Intelligence (AI), which was launched on August 15, 2020. Apart from India, the app debuted in the US, Britain, Germany, South Africa, etc. and already has users from more than 40 countries.

DSK Legal advised Manash Lifestyle Private Limited (“Company”), a company engaged in the business of owning and operating the online marketplace ‘www.purplle.com’ and providing platform services for the sale and purchase of branded products in the beauty and personal care category in relation to 100% share acquisition by the Company in Faces Cosmetics India Private Limited from its holding company, Faces Cosmetics Inc. (backed by SCI Growth Investments III (“Sequoia”)) and Bhagyoday Investments Private Limited (“Hero”) and acquisition of “Faces” brand.

DSK Legal advised Aytas Capital B.V. in investing into HealthQuad, an India-focussed healthcare venture capital firm run by Quadria Capital, has raised Rs 1,134.5 crore towards the pre-final close of its second fund.

DSK Legal advised Infifresh Foods Private Limited (“Infifresh”), a company engaged in the business of processing, preservation and supply of fresh sea food and various categories of meat and is operating through its e-commerce platform named “Captain Fresh” on B2B basis to cater to online retail players, modern trade, general trade retailers and hotels and restaurants catering; and its Founder, Mr. Utham Gowda(“Founder”) in relation to their Series B Round from the lead investors (i) Tiger Global; and (ii) Prosus Ventures (Naspers) and existing investors (i) Accel Partners; (ii) Matrix Partners; (ii) Ankur Capital Fund; and (iv) Incubate Japan (“Series B Investors”). 

DSK Legal advised Manash Lifestyle Private Limited (“Company”), a company engaged in the business of owning and operating the online marketplace ‘www.purplle.com’ and providing platform services for the sale and purchase of branded products in the beauty and personal care category; and (ii) the promoters of the Company, i.e. Mr. Rahul Dash, Mr. Manish Taneja and Mr. Suyash Katyayani (collectively referred to as the “Promoters”) in relation to the primary investment of approx. USD 140,000,000 (US Dollars One Hundred and Forty Million only) by PI Opportunities Fund I - Scheme II (“Premji Invest”), Kedaara Capital Fund III LLP (“Kedaara”), and existing investors SCI Growth Investments III (“Sequoia”) and Blume Ventures Trust Fund 1X (“Blume”) in the Company (collectively the “Series D Investors”).

DSK Legal represented Mr. Sonu Sood and Sood Infomatics LLP (“SIL”) in relation to the acquisition of equity shares of Intercell Technologies Private Limited (“Company”) from the existing shareholders of the Company. 

DSK Legal represented Minda Industries Limited, in relation to formation and investment in a joint venture company between Minda and Germany based Friwo Group for combining expertise in providing e-mobility solutions for electrical two-and three wheelers in India. The JVC has been established with the aim to combine Minda and Friwo’s technologies and production capabilities and will engage in the business of manufacturing, marketing and sale of electric devices and components, including software related to the automotive industry and undertake other related business in the Indian subcontinent.

DSK Legal advised IndoSpace, in setting up a joint venture platform (JV) with Pune-based KSH Infra, with an aim to develop 10 million square feet portfolio of world-class warehousing and logistics parks across the country over the next five years. Indospace, is a joint venture between the Everstone Group, an India and Southeast Asia-focused private equity and real estate investor, GLP and Realterm, a US-based global industrial real estate group. KSH Infra, also a warehousing and logistic parks developer, is part of the 50-year old KSH Group which has multiple businesses such as internal container depot, manufacturing, and third-party logistics.  

DSK Legal represented Glamyo Technologies Private Limited (“Glamyo”) in its investment round lead by Ananta Capital, Udtara Techinvest LLP, COD9 Advisors LLP and other investors (“Investors”) in Glamyo. 

Introduction The Supreme Court of India has passed a judgment in a batch of over 50 appeals on the question as to whether the Courts are empowered to modify an arbitral award under Section 34 of the Arbitration & Conciliation Act, 1996 (“Arbitration Act”) when they are adjudicating an application for setting aside an award under Section 34[1].

DSK Legal has promoted Associate Partners Avinash Kumar Khard, Parag Khandhar and Samit Shukla as partners, & Principal Associate Ekta Tyagi to Associate Partner.

Some of us may have noticed little tags “partnership”, “sponsored”, “advertisement”, “collaboration” with the posts of our favourite social media influencers. This addition is due to the new Advertising Standards Council of India (ASCI) Guidelines for Influencer Advertising in Digital Media. Ever since the world got engulfed in the Covid-19 pandemic, the manner of buying of goods, services, experiences and consequently advertising underwent a significant change. Consumers stopped stepping out of their homes. The outdoor advertising moved to our phone screens, our social media feeds. Today an influencer is no longer restricted to merely a celebrity, a film star, a sportsman. Anyone can be an influencer, even our neighbour could be a social media influencer.

In the case of Amazon.com NV Investment Holdings LLC v. Future Retail Limited & Ors.[1], the Supreme Court of India has decided 2 important questions of law with regard to enforcement of an emergency award by courts in India viz.,

DSK Legal represented Mr. Sonu Sood and Sood Infomatics LLP (“SIL”) in relation to the subscription of Class B shares by SIL in E-arth Travel Solutions Private Limited (“Company”), a 30:70 joint venture amongst SIL and Digispice Technologies Limited (“DTL”) & Spice Money Limited (“SML”). 

DSK Legal advised MV Opportunities India Limited (a Cayman based entity) (“MVOF”) in relation to its investment (“Transaction”) in the Pre-Series B investment round of Teachmint Technologies Private Limited (“Company”). The Company is engaged in the business of providing technology services and products including various web services, internet products, development and marketing of business management software, technology solutions and services for education sector, building software applications and technology applications for computers, mobile phones and other devices and related activities by various modes. DSK Legal had earlier advised MVOF in relation its investment in Series A investment round of the Company.

DSK Legal represented and advised Sagarsoft (India) Limited (“Company”), a public listed company in acquisition of 100% capital in IT CATS LLC, USA (“IT CATS”) from its owner, Mr. Kalva Satish Chander Reddy, for consideration other than cash of an aggregate value of Rs.16.06 Crores by issue of swap shares of the Company of 6,32,238 (Six Lakhs Thirty-Two Thousand Two Hundred Thirty Eight Only) fully paid-up Equity shares of face value of Rs.10/- each at a premium of Rs.244/- per equity share on preferential basis to Mr. Kalva Satish Chander Reddy.

DSK Legal partnered with CoachesForYou, a Pro Bono coaching initiative of the professional coaching community across India and beyond to help people manage the pandemic related stress and feel empowered in all areas of their lives.

DSK Legal advised Tata Capital Healthcare Fund II, acting through its investment manager Tata Capital Limited (“Tata Capital”) in relation to their investment in Atulaya Healthcare Private Limited (“Company”). 

DSK Legal advised Infifresh Foods Private Limited (“Infifresh”) (operating under the brand name ‘Captain Fresh’) and its Founder, Mr. Utham Gowda in relation to their Series A Round from the investors: (i) Accel India VI (Mauritius) Limited (entity registered in Mauritius; (ii) Matrix Partners India Investments III, LLC (entity registered in Mauritius); (iii) Matrix Partners India III AIF Trust (a trust registered as a Category – II AIF with SEBI); (iv) Ankur Capital Fund-II (a fund managed by a trust registered as AIF with SEBI); (v) Incubate Japan via IF India II Investment Partnership (an entity registered in Japan); and (v) other angel investors (“Series A Investors”).

Zurich Airport International AG on Saturday i.e. July 17, 2021 signed a shareholder agreement with the Noida International Airport Limited (NIAL) for the development of an international Airport at Jewar, Uttar Pradesh. 

DSK Legal advised Ruchirans Jaipuria and Anurag Jaipuria in investing into Direct-to-Consumer (D2C) home appliance brand Candes. The investment was a combination of equity investment and debt infusion. This investment round was led by Anuraag and Ruchirans Jaipuria and their company Jai Beverages Private Limited along with Lotus group Joint managing director, Nitin Passi and Redcliffe's Dheeraj Jain.

International law firm Simmons & Simmons and Indian law firm DSK Legal have jointly advised IDP Education Ltd., an Australian listed entity, on the acquisition of the British Council’s International English Language Testing System (IELTS) business in India for £130m.

Background Introduction to NFTs One of the latest trends being built on the blockchain ecosystem are non-fungible tokens (“NFTs”). NFT is a digital token or a certificate having the following broad characteristics:

DSK Legal has completed 20 years, and greatly appreciates the trust of its clients.

The COVID 19 pandemic has changed the way we live and conduct business.

This is the longest curfew that our generation has faced! Very few who witnessed the second World War are with us today to share the stories of the trying times of those days. For our generation, the pandemic COVID-19 is nothing short of a world war. It has not only taken human lives but has largely brought the world economy to a standstill.

Introduction Hitherto, foreign direct investment into India from Pakistan and Bangladesh was given differential treatment and made subject to government approval. However, as a direct fallout of weakening economy and freefalling stock markets, and with a view ‘to curb opportunistic takeovers or acquisitions of Indian companies on account of the outbreak of COVID-19’, the Department of Commerce and Industry has vide Press Note 3 of 2020 dated April 17, 2020 (“Press Note”) amended the extant Foreign Direct Investment Policy, 2017 (“FDI Policy”).

By Anand Desai, Managing Partner, DSK Legal and Hanuman Tripathi, Chairman, Hashtasy Digital, and Council Member, NASSCOM   COVID-19 is a catalyst for rethinking various aspects of our lives, including the functioning of the judiciary, being one of the pillars under our Constitution. As a long-term strategy, can physical attendance in our Court / Tribunal premises be minimized without compromising the process of justice delivery in any manner? Can scaled-up automation boost the entire Indian judicial process to a much higher level of efficiency, while enabling social distancing, and reducing the downsides of travel to, and waiting in Courts?

Due to the global lockdowns and restrictions imposed to prevent the spread of the COVID 19 pandemic, it is quite possible that the force majeure clauses in the concession agreements of various Public Private Partnership projects will be triggered. It is, therefore, advisable that the parties to the PPP projects be aware of, and analyse, the effects of the pandemic, and consequent actions of various Governments, on their projects. A typical PPP concession agreement in India will have provisions to cover force majeure events. Some of the usual provisions are as follows:

In light of the Hon’ble Prime Minister’s announcement on March 24, 2020 declaring a lock-down in India for 21 (twenty-one) days that emanated from the unfortunate COVID-19 epidemic, the relevant department of the Central Government has issued an order, inter alia, directing the closure of manufacturing facilities, shops and other establishments and prohibiting the provision of services (while providing a few exceptions thereto). In addition to the aforesaid Central Government order, certain other departments of the Central Government and certain State Governments have also issued orders relating to closure and regulation of manufacturing facilities, shops and other establishments and services that have been permitted to continue to function/operate. We have set-out below the key aspects of such governmental orders and the restrictions imposed on facilities, establishments and their operations and provision of services, while not delving into restrictions relating to government operations/activities (except as specifically stated herein), in the form of questions and answers.

The COVID-19 pandemic and the consequent lock-down has impacted the business of all non-essential services and supplies and has disrupted collection and flow of revenues for such businesses. This impact has primarily been on account of the effect on global supply chains, foreign travel and inland transportation of goods and movement of people, especially for businesses which rely heavily on supplies from China or on end sale in domestic, Europe and American markets.

Introduction The Reserve Bank of India (RBI), with a view to soften the COVID-19 blow on the industry, has recently introduced a slew of measures to maintain the liquidity levels for the lending institutions and the borrowers.

On March 11, 2020, the World Health Organization characterized COVID-19 as a pandemic with an observation that governments, industries and individuals should continue to implement comprehensive strategies and measures to prevent infections, save lives and minimize impact. The crippling effects of COVID-19 are causing massive business interruptions across the globe/industries.

In the case of Anuj Jain Interim Resolution Professional for Jaypee Infratech Limited v. Axis Bank Limited Etc., the Supreme Court had occasion to examine (i) certain provisions relating to preferential, fraudulent and undervalued transactions contained in the Insolvency and Bankruptcy Code, 2016 (‘IBC’) and (ii) the issue pertaining to existence of a financial debt vis-à-vis creation of a mortgage to secure obligations of a third party.

Despite the best of intentions towards addressing the preservation of value of businesses, and addressing the ills of financially unviable businesses being allowed to continue over prolonged periods, the Insolvency and Bankruptcy Code, 2016 (IBC) is at times found to fall short in implementation of a resolution plan, both after approval of the resolution plan by the Committee of Creditors (CoC), as well as approval by the Adjudicating Authority. Despite the resolution plan being approved by the requisite majority, when the application for approval of the resolution plan comes up before the Adjudicating Authority, multiple parties are often found to intervene and try and delay, or even stop, the resolution plan from being approved. Set out below are some of the challenges that resolution applicants have faced:

The unprecedented global pandemic which has resulted from COVID-19 has led to uncertainties and government actions which have severely impacted businesses and are likely to continue to do so for the foreseeable future. In India, the National Disaster Management Authority has issued an order dated 24 March, 2020 (“NDMA Order”) followed by the Ministry of Home Affairs (MHA) guidelines on 24 March, 2020, directing Ministries/ Departments of the Government of India, State Governments and State Authorities to take measures to ensure social distancing in an effort to curb the spread of COVID-19, including closure of all commercial/ private establishments for 21 days with effect from 25 March, 2020 (with certain exceptions such as distribution of essential goods, telecom/ internet services, power generation and transmission/ distribution units etc.).

The COVID-19 pandemic is an unprecedented global crisis. India has also been severely hit by this and the government has had to take some extraordinary measures, including closing commercial establishments, public markets and educational institutions and restricting movement of public by imposing a lockdown. The government is using the powers granted under the Criminal Procedure Code, 1973 (“CrPC”), Epidemic Diseases Act, 1897 (“ED Act”) and Disaster Management Act, 2005 (“DM Act”) to create a mechanism to mitigate and control this epidemic.

The Novel Corona Virus (“Covid 19”) came to light in December 2019 and by March 15, 2020 it has affected nearly every part of the world causing panic, confusion, frenzy and most important of all large scale disruptions to every industry and businesses around the world.  

"Social Media Influencers, whether their audience is significant or small, impact the lives of everybody who watches their content. They do have a responsibility to ensure what they are publishing is not harmful or offensive.” This statement made by the Single Judge of the Bombay High Court brought into the limelight the impact and responsibilities of Social Media Influencers. Through this article we hope to provide an insight into who are social media influencers, their responsibilities and existing laws and international guidelines regulating social media influencers.

In the last few years, Indian law enforcement agencies have been aggressively investigating businesses that are implicated in any malfeasance or even non-compliance of license terms as required under statutes. Typically, most of the offences committed by companies fall in the category of economic offences. Indian courts have held that economic offences need to be considered as grave offences as they often have a higher degree of mens rea and involve deep-rooted conspiracies which result in huge loss of public funds and affect the economy and financial health of the country.

DSK Legal, a full-service law firm, has added Art Law Practice to their portfolio of practices. The newly introduced practice area is a combination of DSK Legal’s extensive experience in media laws, intellectual property rights protection, and estate planning.